IIBMS (1)

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Quantitative Techniques
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• Quantitative Techniques
•  
• Q1.a) Statistics is the nerve center for
  Operations Research. Discuss.
• b)State any four areas for the application
  of OR techniques in Financial Management, how it
  improves the performance of the organization.
• Q2.At the beginning of a month, a lady has Rs.
  30,000 available in cash. She expects to receive
  certain revenues at the beginning of the months
  1, 2, 3 and 4 and pay the bills after that, as
  detailed here

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• Q3.What is degeneracy? How does the problem of
  degeneracy arise in a transportation problem? How
  can we deal with this problem?
• Q4.Give the various sequencing models that are
  available for solving sequential problems. Give
  suitable examples.
• Q5.A company has determined from its analysis of
  production and accounting data that, for a part
  number KC-438, the annual demand is equal to
  10,000 units, the cost to purchase the item is Rs
  36 per order, and the holding cost is Rs
  2/unit/pear

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• a. What should the Economic Order Quantity be?
• What is the optimum number of days supply per
  optimum order?
• Q6.A TV repairman finds that the time spent on
  his jobs has an exponential distribution with a
  mean 30 minutes. If he repairs sets on the
  first-come-first-served basis and if the arrival
  of sets is with an average rate of 10 per 8-hour
  day, what is repairmans expected idle time each
  day? Also obtain average number of units in the
  system.
• Q7.What is critical path? State the necessary and
  sufficient conditions of critical path. Can a
  project have multiple critical paths?

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• Q8.Explain and illustrate the following
  principles of decision making
• Laplace b. Maximin c. Maximax d. Hurwicz e.
  Savage f. Expectation
• Q9.A salesman makes all sales in three cities X,
  Y and Z only. It is known that he visits each
  city on a weekly basis and never visits the same
  city in successive weeks. If he visits city X in
  a given week, then he visits city Z in next week.
  However, if he visits city Y or Z, he is twice as
  likely to visit city X than the other city.
  Obtain the transition probability matrix. Also
  determine the proportionate visits by him to each
  of the cities in the long run.
• Q10.When it becomes difficult to use an
  optimization technique for solving a problem, one
  has to resort to simulation. Discuss.

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